Which action modifies file permissions in Windows?

The correct action to modify file permissions in Windows is to right-click on the file or folder and select Properties. This action opens a dialog box that provides various tabs, including the Security tab, where users can view and alter the permissions assigned to different user accounts and groups for the selected file or folder. This GUI approach is user-friendly and directly connects users to the permissions settings needed to make adjustments.

Using the command line interface is another valid method for altering file permissions, but it requires more technical knowledge and understanding of command syntax, which might not be as accessible for all users. Similarly, navigating to the Control Panel does not directly lead to file permission settings but is more focused on system-wide settings. The option to change preferences is ambiguous and does not specifically address file permissions, which is why Properties is the most applicable choice for this task.